| Address:
|
ONE RIDGMAR CENTRE
6500 WEST FREEWAY, SUITE 800 |
| City: |
FORT WORTH |
|
State: |
TX |
|
Zip Code: |
76116 |
| Telephone: |
817-989-9000 |
|
Description of Business
|
Primary SIC Code:
1311 |
| (As filed with the SEC)
|
|
|
We are an independent energy company engaged in the exploration, development,
production and acquisition of unconventional natural gas and oil properties
onshore in the United States and British Columbia. We focus our growth efforts
primarily on finding and developing natural gas reserves in known tight sands
and shale gas areas and have assembled leasehold interests aggregating
approximately 273,800 gross (191,182 net) acres. Our management team has a
proven track record of finding and exploiting unconventional reservoirs through
advanced completion, fracturing and drilling techniques. As the operator of
substantially all of our proved reserves, we have a high degree of control over
capital expenditures and other operating matters.
We currently operate or have interests in the following areas:
West Texas
. Ozona Northeast (Wolfcamp and Canyon Sands)
. Cinco Terry (Wolfcamp, Canyon Sands, Ellenburger)
East Texas
. ... More ... |
| Date |
12-mos
Rolling EPS |
Dividend |
P/E
Ratio |
| 03/2009 | 1.03 | NA | 6.02 | | 12/2008 | 1.12 | NA | 6.53 | | 09/2008 | 0.96 | NA | 15.06 | | 06/2008 | 0.17 | NA | 157.59 | | 03/2008 | 0.44 | NA | 35.64 | | 12/2007 | 0.24 | NA | 53.58 |
Key Financial Ratios and Statistics |
FYE:
12/31 |
| Profitability |
2008 |
Leverage |
2008 |
| Net Inc/Comm Equity | 0.14 | Total Liab/Total Assets | 0.34 | | Net Inc/Total Assets | 0.07 | Total Liab/Inv Cap | 0.37 | | Net Inc/Inv Cap | 0.08 | Total Liab/Comm Equity | 0.68 | | Pretax Inc/Net Sales | 0.44 | Interest Coverage Ratio | 28.97 | | Net Inc/Net Sales | 0.29 | Curr Debt/Equity | NA | | Cash Flow/Net Sales | 0.71 | LTD/Equity | 0.19 | | SG&A/NetSales | 0.11 | Total Debt/Equity | 0.19 |
| Asset Utilization
|
|
Liquidity |
|
| Net Receivables Turnover | 4.85 | Quick Ratio | 1.13 | | Inventory Turnover | NA | Current Ratio | 1.13 | | Inventory Day Sales | NA | Net Rec/Curr Assets | 0.64 | | Net Sales/Work Cap | 19.66 | Inv/Curr Assets | NA | | Net Sales/PP&E | 0.26 | | |
Income Statement (Millions) |
| |
3/31/2009
|
12/31/2008
|
9/30/2008
|
6/30/2008
|
|
Total Revenues(Net Sales)
|
10.07
|
14.69
|
22.02
|
24.14
|
|
Cost of Goods Sold
|
2.80
|
6.73
|
1.84
|
2.84
|
|
Selling & Admin Exps
|
2.81
|
0.30
|
2.89
|
2.99
|
|
Operating Income
|
-2.49
|
-6.17
|
12.27
|
12.29
|
|
Interest Exp
|
0.45
|
0.36
|
0.42
|
0.34
|
|
Pretax Income
|
2.39
|
-0.74
|
30.26
|
1.73
|
|
Other Income
|
5.33
|
5.78
|
18.42
|
-10.21
|
|
Net Income Bef Extraordinary ...
|
NA
|
NA
|
NA
|
NA
|
|
Net Income
|
0.87
|
-0.15
|
19.85
|
0.93
|
|
Assets
|
3/31/2009
|
12/31/2008
|
9/30/2008
|
6/30/2008
|
|
Cash & Short Term Investments
|
10.99
|
12.09
|
6.16
|
0.14
|
|
Receivables - Total
|
13.18
|
22.16
|
19.67
|
22.25
|
|
Inventories - Total
|
NA
|
NA
|
NA
|
NA
|
|
Total Current Assets
|
25.06
|
34.84
|
26.08
|
24.81
|
|
Net Property, Plant & Equipment
|
309.85
|
303.40
|
286.55
|
254.51
|
|
Total Assets
|
334.90
|
338.24
|
313.94
|
280.24
|
|
Liabilities
|
|
|
|
|
|
Accounts Payable
|
20.71
|
30.78
|
28.42
|
25.55
|
|
Debt in Current Liabilities
|
NA
|
NA
|
NA
|
10.27
|
|
Total Current Liabilities
|
20.71
|
30.78
|
28.42
|
35.81
|
|
Long-Term Debt
|
48.04
|
43.54
|
23.53
|
10.97
|
|
Total Liabilities
|
109.58
|
114.43
|
89.56
|
76.20
|
|
Stockholder's Equity
|
|
|
|
|
|
Minority Interest
|
NA
|
NA
|
NA
|
NA
|
|
Preferred Stock
|
NA
|
NA
|
NA
|
NA
|
|
Common Stock
|
0.21
|
0.21
|
0.21
|
0.21
|
|
Retained Earnings
|
57.62
|
56.75
|
56.91
|
37.06
|
|
Treasury Stock
|
NA
|
NA
|
NA
|
NA
|
|
Total Stockholders' Equity
|
225.32
|
223.81
|
224.38
|
204.04
|
|
Total Liabilities and Stockholders' Equity
|
334.90
|
338.24
|
313.94
|
280.24
|
Cash Flow Summary (Millions) |
|
Categories
|
3/31/2009
|
12/31/2008
|
9/30/2008
|
6/30/2008
|
|
Net Cash Provided by Operating Activities
|
5.61
|
10.54
|
21.98
|
19.06
|
|
Net Cash Provided by Investing Activities
|
-13.36
|
-27.96
|
-36.49
|
-20.57
|
|
Net Cash Provided by Financing Activities
|
4.18
|
20.07
|
15.98
|
0.36
|
Annual Summary Data (Millions) |
| Year |
Sales |
Net
Income |
EPS |
| 12/2005 | 43.26 | 12.06 | -- | | 12/2006 | 46.67 | 21.20 | -- | | 12/2007 | 39.11 | 2.71 | 0.24 | | 12/2008 | 79.87 | 23.39 | 1.12 | | Growth Rates | 22.67 | 24.71 | -- |
| Type |
Date(Q,M) |
No.
Owners |
Shares
Held (000s) |
%
Own |
| Institutional | 03/31/09 | 72 | 11,029 | 53.20 |
|
Report Date :
6/23/2009
 Copyright
2009, EDGAR Online, Inc. All
rights reserved. Replication or redistribution of EDGAR Online, Inc. content is
expressly prohibited without the prior written consent of EDGAR Online, Inc.
EDGAR Online, Inc. shall not be liable for any errors or delays in the content,
or for any actions taken in reliance thereon.
|
|
|